The sale of more than 18 acres of farmland in Lincoln, Nebraska, could signal future unit development with residences on the land, which is located on the east side of the city.
Oscorp Farms, LLC, an Omaha, Nebraska-based company, acquired the 18.42-acre site from TCID Properties, LLC, a San Juan Capistrano, California-based company. The deal was recognized as the sale/acquisition of the year in Lincoln as part of the 2024 CoStar Impact Awards, which were judged by real estate professionals familiar with the market.
The land, which is currently used by a local farmer, sold for $800,000.
About the Project: The site has more than 1,000 linear feet of O Street frontage but currently has no city water or sewer.
What the Judges Said: "Development in [Lincoln] is so important, specifically east. I'm excited to see what this does for the city." — Katy Martin, vice president of Lee & Associates Nebraska.
"Expanding Lincoln's boundaries towards the east, particularly with such a large piece of ground, will eventually yield an east bypass which has been long sought after by the city." — James McCombs, sales and leasing agent and operations manager, Guiderock Commercial Realty LLC.
They Made It Happen: Laura Bell, broker, manager and owner, Commercial Realty Group, LLC.